US Jobs Report Set to Reveal Solid Growth, Steady Unemployment Rate
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(Bloomberg) — Jobs week is coming up in the US, with a whole slate of indicators on the state of the labor market culminating on Friday with the government’s official report on employment for the month of May.
Fed’s Williams Quips Economist Jobs Are Safe as AI Shift Unfolds
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(Bloomberg) — The implications of artificial intelligence gripped global central bankers in Iceland this week, with one Federal Reserve official joking that it won’t put economists out of business.
S&P 500 Powers Historic Weekly Run on US-Iran Bets: Markets Wrap
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(Bloomberg) — Hopes that a ceasefire deal could pave the way for an end to the Iran conflict drove stocks to a historic streak of weekly gains, with the market also buoyed by the artificial-intelligence trade.
Zurich Bank Aims at Brazil, Florida to Expand in Americas
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(Bloomberg) — EFG International AG, a private-banking boutique based in Zurich, is expanding its 300-person team serving clients from the Americas with an emphasis on Brazil and South Florida.
Swiss Police Say Knife Attack Was ‘Terrorist’ Incident
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(Bloomberg) — Three people were injured in a knife attack in the Swiss city of Winterthur on Thursday in what authorities have deemed a “terrorist” act.
Stocks Hit Record Highs After US-Iran Deal Reports: Markets Wrap
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(Bloomberg) — Wall Street traders sent stocks to all-time highs, bonds advanced while a rally in oil waned amid speculation about a diplomatic breakthrough in the three-month war that has rattled global markets.
Willy Strothotte, Ex-Glencore CEO Who Ousted Marc Rich, Dies at 82
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(Bloomberg) — Willy Strothotte, who played a key role in the history of commodity trading by leading the deal that created Glencore Plc, has died. He was 82.
Iceland Ousts Switzerland as Priciest Nation, Union Says
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(Bloomberg) — Iceland is again the world’s most expensive country, surpassing Switzerland for the first time in years, calculations by a local trade union showed.
Stock Rally Falters on Conflicting US-Iran Signals: Markets Wrap
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(Bloomberg) — Wall Street traders left stocks wavering amid mixed signals about prospects for a deal to end the war in Iran and revive energy flows through the vital Strait of Hormuz.
Banks in Croatia Face Hit After Ruling on Swiss Franc Loans
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(Bloomberg) — Banks in Croatia face a potential hit if a ruling by the country’s Supreme Court turns out to have sided with borrowers of Swiss-franc loans in a decade-long legal dispute.
BIS and Banks Build Blockchain Cross-Border Payments Prototype
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(Bloomberg) — The Bank for International Settlements and a cohort of partners will soon start testing a new prototype for digital cross-border payments with real-value transactions.
Hong Kong Overtakes Switzerland as Top Offshore Wealth Hub
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(Bloomberg) — Hong Kong has narrowly overtaken Switzerland to become the world’s largest cross-border wealth hub, driven by an influx of mainland Chinese capital and a resurgent local equity market.
Swiss to Vote on Stricter Neutrality Proposal in September
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(Bloomberg) — Swiss voters will decide in September if the country should strengthen its commitment to neutrality, a measure that would limit the government’s ability to impose economic sanctions.
Switzerland’s 10-Million Population Cap Is Worrying Executives
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(Bloomberg) — At its headquarters in Basel, Swiss drugmaker Roche Holding AG employs workers from more than 100 countries. In less than a month, the access to international talent that it’s long enjoyed could come under serious threat.
UBS’ Khan Says AI Will Impact Jobs While Aiding Productivity
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(Bloomberg) — UBS Group AG’s Asia Pacific President Iqbal Khan said artificial intelligence will free up capacity and improve productivity but also have an impact on jobs.
S&P 500 Hits Record High as Iran Peace Hopes Hold: Markets Wrap
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(Bloomberg) — Wall Street kicked off the holiday-shortened week with stocks joining bonds higher as hopes for a peace deal between the US and Iran overshadowed military strikes in the Persian Gulf.
Audemars Piguet CEO Resta Says Swatch Tie-up Smashed Web Records
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(Bloomberg) — For Audemars Piguet Chief Executive Officer Ilaria Resta, the response to the luxury Swiss timepiece maker’s launch of a pocket watch in collaboration with Swatch has been overwhelming.
Ex-Credit Suisse Risk Chief Has Swiss Criminal Case Dismissed
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(Bloomberg) — Credit Suisse’s former head of compliance has avoided a criminal trial for allegedly ignoring red flags in a scandal that helped hasten the bank’s collapse, after the case was dismissed on technical grounds.
US Stock Futures Gain as Crude Oil Drops on Iran: Markets Wrap
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(Bloomberg) — Global stocks rose to record highs as crude oil fell after officials signaled the US was nearing a deal with Iran to reopen the Strait of Hormuz and restore oil flows. The dollar weakened.
Eni Looks to Speed Up $4 Billion Oil Expansion in Ivory Coast
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(Bloomberg) — Eni SpA will look to accelerate a $4 billion expansion of its offshore joint venture with Vitol Group in the Ivory Coast, Chief Operating Officer Guido Brusco said.
